Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The ITAT held that an assessee's appeal is maintainable even if the alternative remedy u/s 264 has been availed. Relying on the Madras High Court's decision in CIT vs. D. Lakshminarayanapathi, it ruled that provisions dealing with appellate jurisdiction do not bar an appellant from invoking appellate jurisdiction before CIT(A), despite having invoked revisional jurisdiction u/s 264. Consequently, the CIT(A)'s order holding the assessee's appeal as not maintainable was set aside, and he was directed to re-decide the appeal on merits as per law. The assessee's appeal was allowed for statistical purposes.
The ITAT held that an assessee's appeal is maintainable even if the alternative remedy u/s 264 has been availed. Relying on the Madras High Court's decision in CIT vs. D. Lakshminarayanapathi, it ruled that provisions dealing with appellate jurisdiction do not bar an appellant from invoking appellate jurisdiction before CIT(A), despite having invoked revisional jurisdiction u/s 264. Consequently, the CIT(A)'s order holding the assessee's appeal as not maintainable was set aside, and he was directed to re-decide the appeal on merits as per law. The assessee's appeal was allowed for statistical purposes.
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